TerrAscend Reports Preliminary Fourth Quarter Revenues Of $65.0 Million
It looks as if TerrAscend Corp (CSE: TER) is looking to stop the slow bleed in its equity. The company this morning “preannounced” its fourth quarter and full year 2020 financial results, with the company reporting net sales of $65.0 million for the quarter and $198 million for the full fiscal year.
Released on a preliminary basis, the net sales for the quarter represent growth of 27.5% compared to the third quarters revenue figure of $51.0 million. Year over year, revenues were up from $84.9 million, a 133% increase.
Adjusted EBITDA meanwhile was reported as being $26.0 million for the fourth quarter, and $60 million for the full fiscal year, while margins in the fourth quarter were stated as being 40%.
Guidance for 2021 of net sales between $360 million to $380 million was also reiterated, along with adjusted EBITDA of $140 million to $160 million.
Full financial results are slated to be released March 23, 2021.
TerrAscend Corp last traded at $17.00 on the CSE.
Information for this briefing was found via Sedar and TerrAscend Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
